On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying Constellation Energy Corporation (NASDAQ:CEG) as the stock has “come down way too far.”
According to recent news, Constellation Energy announced on June 1 an underwritten public offering of 11 million shares.
ManpowerGroup Inc. (NYSE:MAN) has “never really been a great win” for him, Cramer said.
On April 30, ManpowerGroup announced the sale of its Jefferson Wells U.S. business to Sikich for a transaction value of $100 million.
Cramer recommended holding on to Credo Technology Group Holding Ltd (NASDAQ:CRDO), adding that it is “just so good.”
On the earnings front, Credo Technology Group, on June 1, posted fourth-quarter revenue of $437 million, beating analyst estimates of $432.05 million. The connectivity solutions company reported adjusted earnings of $1.16 per share for the quarter, beating analyst estimates of $1.03 per share, according to Benzinga Pro.
Cramer said he doesn't want Perrigo Company plc (NYSE:PRGO), adding that it's a “value trap” and doesn't have any growth.
According to recent news, Perrigo appointed Albert A. Manzone as interim president and CEO on June 8, succeeding Patrick Lockwood-Taylor.
Cadence Design Systems, Inc. (NASDAQ:CDNS) is a “hold, and if it comes down it's a buy,” Cramer said.
On June 9, Stifel analyst Ruben Roy maintained Cadence Design Systems with a Buy rating and raised the price target from $395 to $432.
Price Action:
- Constellation Energy shares gained 2.9% to settle at $253.76 on Friday.
- Credo Technology shares fell 5.3% to close at $250.81.
- ManpowerGroup shares closed at $34.00 on Friday.
- Perrigo shares rose 0.8% to settle at $10.99.
- Cadence Design shares gained 0.3% to close at $384.96 on Friday.
Photo: Shutterstock edited by Benzinga